FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 650, 30 April 1929, Page 12

FINANCE & MARKETS

A Quiet Market

Insurance Group Dull

By “Noon Call.” AQLIEI market was registered on ’Change this morning. Greater interest was taken in industrials, and several more or less neglected shares were sought.

F I actuations Price movements noted by sales made over the past 24 hours, when compared with the price at the time of the previous recorded sale, include: Taupirl Coal, rise of 3d. X.Z. Refrigerating (con.), rise of 3d. • * * battle movement is shown in the banking and insurance sections. Commercials of Australia have weakened slightly on last week’s opening market and were dealt with in Christchurch yesterday at 30s 2d. The insurance group is dull, with the market lacking buoyancy. • * * Tn coals, Waipas are in better tone and, with buyers offering 11s 2d, 2d up on yesterday’s market, sellers are not prepared to make a declaration. Even at Us 6d, the scrip would return approximately £lO 8s 8d per cent., based on the last dividend. (Jroy Valleys are sought by steady buyers at 245. The market for Kauri Timbers holds its improved strength of yesterday. ’buyers offering 18s. Sellers withdrew quotations this morning. Other shares in the group are very quiet, and practically neglected.

Adair Bros, shares were sought this morning for the first time for many weeks, buyers offering 16s. As this concern has been returning a steady 8 per cent, for a number of years, it can be seen that the price is a little on the low side. The improving position of Booth Macdonalds is registered by the appearance of buyers on lo«levels for both issues. This is the first time buyers have appeared for many months. if * * The market for Farmers' Fertilisers moved to higher levels in the South yesterday, the scrip changing hands in Christchurch at 23s 3d. Sellers’ quotations of 23s 6d in Auckland find support at 225. The market fo.r the scrip is very firm. Business yesterday afternoon: City of Auckland, 1939, 5£ per cent., £99 ss; National Bank of Australasia (eon.), £9 13s 6d: Auckland Gas (ord.), 24s 4d. Business at this morning’s early call on ’Change: Taupiri Coals Cord.), 275. Reported: Waihi Mining, 14s Id. Business at mid-day: New Zealand Refrigerating (con.). 7s 3d: Bank of New Zealand D mortgage issue, 395: Hayward’s Pictures, 20s 6d.

TO-DAY’S QUOTATIONS

Closing quotatoins at to-day'a mid-day call were:—

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association Christchurcn Commercial Bank of Australia, 30s 2d (two): Bank of New Z* aland. 625; New Zealand Refrigerating (10s paid). 7s 8d (four): Christchurch Gas (10s paid). 1.3 s 3d: Dunlop Rubber (ex div.), 27s 9d: New Zealand Farmers’ Fertiliser (cum div.), 23s 3d: WindingCreek (6d paid). 1». lid: W. R. Cooko and Son. S per cent.. 1936. £lO2 10s; Kaiapoi Woollens (ord.), 14s 3d; New Zealand Breweries, 625; Staples Brewery, 45s 9d. SERIOUS TRADE DECLINE AUSTRALIA’S COMMERCE (United. P.A. — By Telegraph — Copyright) Reed. 11 a.m. SYDNEY, To-day. According to the latest oversea trade bulletin, during the last financial year there was a serious decline in Australia’s oversea trade, amounting to £18.ti98.921, compared with the preceding 12 months. The value of trade during the financial year was £ 291,158,040. There was a considerable improvement in trade with British countries, which represented 52 per cent, of the total of Australian trade. MINING NEWS LUCKY SHOT.—The manager reports: “he winze on the main reef north of No. 1 winze has been extended 7ft for the week. The reef is a very strong body of ore; 3ft 6in of the footwa.il portion is exposed, with no hanging wall in sight. The quartz broken out from this rootwall portion shows colours of gold and 13 very heavily mineralised. The prospects in this winze fully warrant the pushing out of the low level to intersect this reef below which will give another 100 ft of hacks.” ALB U RINA—The manager reports: The drive north on the main Orlando lode from the crosscut at the winze has been extended 6ft, a total of 112 ft. The reef •'*:‘ s ■till a strong body of stone sft vude. and is carrying mineral blend. aaK 1 ! o ?#' ®Dica. Strong colours and Jim- JriS 4 B *? n *. n th* ore after 9 n t * le r * Pe on the Sons work nf Zn' to the Whau level, the rk yeaning out the level, laying line. . •• ls being carried on It will tak-o two V *«ToVher* in leader is. as the level is down in an<l requires new timber.

INDIA’S FOREIGN TRADE COMMISSIONERS ABROAD British Official "Wireless Reed. 10.3 S a.m. RUGBY, Monday. Asked whether any action had been taken by the Government of India to implement the recommendations of the trade mission sent out by the Indian Tariff Board to investigate and make proposals with a view to increasing the foreign market for Indian goods, Earl Winterton said in the House of Commons that the Government of India was considering the question of appointing trade commissioners at Alexandria, Mombasa and Durban. CHICAGO WHEAT MARKET (Australian and X.Z. Press Association) Reed. 0.10 a.m. CHICAGO, Monday. Wheat. May. 1 dollar 12 cents a bushel; July, 1 dollar 16 5-8 cents; September, 1 dollar 20J cents.

Seilers. 8uje a. i s d -£ • d BANK'S— 1 36 1 15 « Com. of Australia . 1 10 4 1 10 1 Ditto (con.) .. - 0 14 9 0 14 ° i Ditto (pref.) . . . . 9 0 s 18 3 0 7 0 Nat. of Australasia . 19 New South Wales . 0 51 New Zealand . . l Ditto ID .Mort.t . I'nion of Australia . IS 11 0 ' NS URANCE — 0 18 10 0 16 4 New Zealand . • .. 2 7 0 2 6 South British .. .. 3 4 3 •> COAN AND AGENCT— Abraham and Wil9 Hams (pref.) — 3 9 0 «loldshromth. Mort. . z 14 3 2 3 Xewton Kins; (pref.) 0 9 129 Ditto (pret.) .. .■ 0 i 'o-op. (ord.) . . . . U 9 10 6 Ditto B (pref.) .. COAL — Grey Valley 1 0 4 9 1 4 0 Hikurangi (pref.) .. 0 17 9 0 16 3 Ditto (rrcf.) .. .. — 2 Taupiri 1 8 Ditto (pref.) .. .. 3 o Waipa w.stport-Stockton 0 4 0 31 Ditto (pref.) .. .. — GAS— Auckland 1 4 5 1 4 4 Ditto (con.) .. .. 0 Gisborne 6 SHIPPING— Devonport Steam .. 1 4 _ 9 i Hiuldart-Parker 6 2 0 0 Northern Steam Ditto (con. > . .. — P. & O. (del. stk.) — Union Steam (pref.) — TIMBER— 0 IS 0 (1 Parker-Lamb .. .. 0 18 — WOOLLEN — Kaiapoi 0 14 8 0 14 0 Ditto (pref.) .. .. BREWERIES — 6 O. L. Innes (pref.) — 1 0 0 N.Z. Breweries. MISCELLANEOUS— * — 0 16 0 Auck. Amuse. Park . Ditto (pref.) Aust. Iron and Australian Glass Booth. Macdonald Ditto (pref) — 0 2 6 British Tobacco Burns. Philp . . .. 8 — 0 0 Checker Taxi .. .. 8 6

Sellers. Buyers. Col. Sugar . . . . 60 5 0 59 10 0 Dominion Pictures 1 Ditto (pref.) .. .. 1 ft 6 Donaghy’s Rope . . 1 13 • Electrolytic Zinc (ord.) 1 15 9 1 15 Ditto (pref.) . . . . 1 17 0 1 16 6 Farmers’ Trading 0 8 8 0 8 Ditto A (pref.) 0 17 Gear Meat 6 Grey & Menzies 0 10 5) H.M. Arcade Theatre (pref.) 1 1 0 X.Z. Drug Lewis Eady. Ltd. (pref.) 0 19 Milne and Choyce 5 Ditto ( prel. ) 1 ‘itto, B (pref.) . . 1 <; 1 Farmers’ Fert 1 6 1 X.Z. Paper Mills X.Z. Refrigerating . 0 15 9 15 0 7 5 0 1 Robinson Tee Cream 1 4 1 6 Sanford, Ltd 0 19 G 0 18 Ditto (pref.) . . . . 1 ft 0 Taranaki Oil Fields 0 Thames Theatre 0 10 0 Victoria Xyanza Sugar 2 Whittome, Stevenson 2 Wilsons Cement — 2 1 3 MINING— 0 2 ft 0 1 3 Moanataiari (pd) 0 1 4 9 Ditto (con.) . . . . Lucky Shot (4s pd.) Maoriland (con.) ft Ohinemuri (ord.) . . 0 8 9 Ditto (pref.) .. .. Wail'll Waihi Grand June. Mount Lyell .. 4 2 4 DEBENTURES— Auckland Gas, 1932, • Ditto, 1935, p c. Ditto. 6 p.C 103 Citv of Auckland, 1940, ok p.c. Ditto. 1937. 5i p.c. 100 6 per cent 104 0 0 Bor. of Mt. Eden. 6 Bor. of Mt. Albert, 55. 1963 Hauraki Plains County. 6 per cent., 1962 .. 104 — X.Z. Breweries .. .. l 6 8 1 6 4 Gisborne Sheepfarmers’ 98 0 — GOVERNMENT BONDS 100 0 0 99 10 0 Ditto, 1939, 4i . . 99 1ft ft Ditto, 1933, 53c P.c. 99 ft Ditto, 1933, 5i p.c. 101 10 0 101 Ditto, 1936, 5 h P.c- — 101 5 INSCRIBED STOCK — War Loan. 1938, 4& too 0 0 99 10 0 Ditto, 1939, 45 p.c. 100 0 0 99 1ft 0 Ditto, 1933. 5J p.c. 99 ft 0 Ditto, 1933, 55 p.c. Ditto, 1936, 5i p.c. — 101 3